Oceaneering International Financials

$476.1 M

Revenue Q3, 2017

$1.8 B

Mkt cap, 13-Dec-2017
Gross profit (Q3, 2017)54.9 M
Gross profit margin (Q3, 2017), %12%
Net income (Q3, 2017)(1.8 M)
EBIT (Q3, 2017)10.5 M
Cash, 30-Sep-2017472.4 M
EV2.1 B

Financials

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

3.3 b3.7 b3.1 b2.3 b

Revenue growth, %

11%(16%)(26%)

Cost of goods sold

2.5 b2.8 b2.5 b2 b

Gross profit

765.5 m859.2 m605.4 m279.2 m

Gross profit Margin, %

23%23%20%12%

General and administrative expense

220.4 m230.9 m231.6 m208.5 m

Operating expense total

220.4 m230.9 m231.6 m208.5 m

EBIT

545.1 m628.3 m373.8 m70.8 m

EBIT margin, %

17%17%12%3%

Interest expense

2.2 m4.7 m25.1 m25.3 m

Interest income

554 k293 k607 k3.9 m

Pre tax profit

542.3 m623.5 m336.3 m43.3 m

Income tax expense

170.8 m195.1 m105.3 m18.8 m

Net Income

371.5 m428.3 m231 m24.6 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

91.4 m430.7 m385.2 m450.2 m

Accounts Receivable

768.8 m778.4 m612.8 m489.7 m

Inventories

441.8 m375.6 m328.5 m280.1 m

Current Assets

1.4 b1.7 b1.5 b1.3 b

PP&E

1.2 b1.3 b1.3 b1.2 b

Goodwill

344 m331.5 m426.9 m443.6 m

Total Assets

3.1 b3.5 b3.4 b3.1 b

Accounts Payable

129.6 m123.7 m118.3 m77.6 m

Current Liabilities

727.1 m679.1 m616 m508.4 m

Long-term debt

750 m795.8 m793.1 m

Total Debt

750 m795.8 m793.1 m

Common Stock

27.7 m27.7 m27.7 m27.7 m

Additional Paid-in Capital

222.4 m229.6 m230.2 m227.6 m

Retained Earnings

1.9 b2.2 b2.4 b2.3 b

Total Equity

2 b1.7 b1.6 b1.5 b

Debt to Equity Ratio

0.5 x0.5 x0.5 x

Debt to Assets Ratio

0.2 x0.2 x0.3 x

Financial Leverage

1.5 x2.1 x2.2 x2.1 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

304.5 m190.6 m271.2 m370.9 m393.2 m441.6 m462.5 m482.3 m472.4 m

Accounts Receivable

774.9 m795.9 m702.2 m577.2 m547.1 m510.4 m429.8 m466.5 m464.5 m

Inventories

379.8 m377 m373.2 m352.1 m343 m297.2 m297.6 m266.6 m245.8 m

Current Assets

1.6 b1.5 b1.5 b1.4 b1.4 b1.4 b1.2 b1.3 b1.2 b

PP&E

1.3 b1.3 b1.3 b1.2 b1.2 b1.2 b1.1 b1.1 b2.8 b

Goodwill

314.8 m435.6 m421.6 m443.1 m438.9 m448.3 m445.5 m450.8 m464.8 m

Total Assets

3.4 b3.5 b3.4 b3.4 b3.3 b3.2 b3.1 b3.1 b3.1 b

Accounts Payable

121.1 m135.8 m92.9 m76.9 m100 m95.3 m86.9 m81.7 m89.4 m

Current Liabilities

601.8 m663 m623.8 m523.2 m497.6 m501.1 m477.5 m482.9 m461.5 m

Long-term debt

750 m792.9 m797.5 m800.6 m802.3 m802.3 m793.9 m794.1 m795.8 m

Total Debt

750 m792.9 m797.5 m800.6 m802.3 m802.3 m793.9 m794.1 m795.8 m

Common Stock

27.7 m27.7 m27.7 m27.7 m27.7 m27.7 m27.7 m27.7 m27.7 m

Additional Paid-in Capital

216.3 m220.6 m224.6 m217.9 m221.5 m223.7 m218.3 m221.7 m224.5 m

Retained Earnings

2.3 b2.3 b2.4 b2.4 b2.4 b2.3 b2.3 b2.3 b2.2 b

Total Equity

1.6 b1.6 b1.6 b1.6 b1.6 b1.6 b1.5 b1.5 b1.5 b

Debt to Equity Ratio

0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x0.5 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.3 x0.3 x0.3 x

Financial Leverage

2.1 x2.2 x2.2 x2.1 x2.1 x2.1 x2.1 x2.1 x2.1 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

371.5 m428.3 m231 m24.6 m

Depreciation and Amortization

202.2 m229.8 m241.2 m250.2 m

Accounts Receivable

(100 m)(8.5 m)178.8 m123 m

Inventories

(110 m)66.3 m33.2 m17.8 m

Cash From Operating Activities

531.4 m721.8 m560.4 m340.5 m

Purchases of PP&E

(382.5 m)(386.9 m)(200 m)(112.4 m)

Cash From Investing Activities

(377.6 m)(419.5 m)(437.2 m)(169.5 m)

Dividends Paid

(90.9 m)(109.7 m)(106.5 m)(94.1 m)

Cash From Financing Activities

(180.3 m)45.4 m(157 m)(97.1 m)

Net Change in Cash

(29.1 m)339.3 m(45.5 m)65 m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

69.5 m135 m203.5 m25.1 m47.4 m35.6 m(7.5 m)(5.4 m)(7.2 m)

Depreciation and Amortization

58 m121.5 m183.5 m59.8 m119.8 m194 m53.7 m107 m160.5 m

Accounts Receivable

3.5 m5.3 m98.4 m35.6 m65.7 m102.4 m60 m23.3 m25.5 m

Inventories

(4.2 m)1.4 m5.1 m(23.7 m)(14.6 m)768 k(17.5 m)13.5 m35 m

Cash From Operating Activities

8.1 m200.5 m373.1 m53.6 m145.7 m262.8 m59 m102.6 m144 m

Purchases of PP&E

(49.4 m)(94.8 m)(139.2 m)(21.2 m)(52.9 m)(83.4 m)(17.8 m)(41.3 m)(59.9 m)

Cash From Investing Activities

(48.2 m)(322.6 m)(385.1 m)(37.5 m)(77.2 m)(117.4 m)(30.7 m)(40.3 m)(78.8 m)

Dividends Paid

(27 m)(53.6 m)(80 m)(26.5 m)(53 m)(79.4 m)(14.7 m)(29.5 m)(44.2 m)

Cash From Financing Activities

(83.5 m)(104.9 m)(131.3 m)(29.5 m)(56 m)(82.4 m)(16.6 m)(31.5 m)(46 m)

Net Change in Cash

(126.2 m)(240.1 m)(159.6 m)(14.4 m)8 m56.4 m12.3 m32.1 m22.2 m

Ratios

USDY, 2017

EV/EBIT

202.2 x

EV/CFO

14.8 x

Revenue/Employee

51.2 k

Debt/Equity

0.5 x

Debt/Assets

0.3 x

Financial Leverage

2.1 x

Operating Metrics

Oceaneering International's Backlog was reported to be $1.6 b in FY, 2016, which is a 38% decrease from the previous period
Q4, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017

Backlog

$3.17 b$2.52 b$1.55 b

Backlog (Subsea Products)

$690 m$788 m$703 m$736 m$652 m$576 m$503 m$457 m$431 m$407 m$328 m$284 k

Remotely Operated Vehicle Fleet

336336336337315318318279280282279279

Vessel Fleet

885

Average Number of Floating Rigs under Contract

280241193174162151177151153151

Remotely Operated Vehicle Days on Hire

24.68 k98.3 k22.14 k21.71 k21.23 k18.76 k83.84 k16.01 k16.06 k15.16 k12.75 k59.96 k11.49 k12.27 k12.74 k

Remotely Operated Vehicle Utilization

80%83%73%71%68%62%69%56%55%52%50%53%46%48%50%